In today’s digital age, fraud and scams are more prevalent than ever. With the rapid advancement of technology, scams have become much harder to spot. It’s essential to stay informed to protect yourself and your finances. Understanding the tactics used by scammers can help you avoid falling victim to their schemes! 

Online Transactions and Purchases

 When buying or selling something online, be wary if the other party sends you a check for more than the agreed amount. Do not negotiate the check. Scammers often send counterfeit money orders or bad checks for an amount greater than the price of your item and ask for the difference back, hoping to get their hands on your real money.

It is also important to be cautious of online ads and social media ads selling name-brand merchandise at very reduced prices. Chances are you will not receive the merchandise, or it will not be what you ordered. Pay close attention to the website and ensure it is legitimate. Fraudulent websites often mimic real brands to deceive you into thinking you are getting a great deal.

Cryptocurrency and Wire Transfers

 If you are asked to pay for an item with cryptocurrency, it’s likely a scam. If you are not familiar with cryptocurrency and are unwilling to invest the time to educate yourself, do not buy it. Refrain from sending cryptocurrency and wire transfers to unfamiliar individuals. Once you send cryptocurrency to someone, or a wire transfer, neither are reversible! Once the funds are sent, they cannot be recovered.

Relationship and Emergency Scams

 Scammers may call or text you with the intention of building a “relationship” over weeks, months, or even years. They may ask for financial help in small amounts, gift cards, or cash via Venmo, PayPal, or Cash App. They may also lead you to apps that promise easy money but end up being fake. Be cautious and avoid downloading any apps suggested by someone you don’t fully trust.

If you ever receive a call or text from a family member claiming they are in an emergency and need money, call that person at their number to be sure of who you’re talking to. Scammers may use artificial intelligence (AI) or voice cloning software to sound like a loved one and pressure you to act fast. Always verify the situation before taking any action.

Employment and Advertising Scams

Real employers will never send you a check to pay for equipment or the installation of your equipment. New hire paperwork should be available to you and completed in person. Always be cautious of any requests to send money.

Other common scams involve offers to advertise company products. Scammers may impersonate name brands or create fake companies that seem legitimate. They may ask you to advertise a product on your car for a large sum of money or ask you to be a brand ambassador. Always exercise caution and thoroughly verify offers to avoid falling victim to these schemes.

Computer Virus Scams

If you receive a pop-up message claiming your computer is infected with a virus, do not call the number displayed or interact with the message. It may block your screen or prevent you from using your computer, but do not engage with it. Instead, unplug your computer from the wall and take it to a reputable business for cleaning.

Impersonation Scams

Family First will never call you and ask for personal information such as debit card numbers, online banking usernames, passwords, or security codes. If you receive a call from someone claiming to be from your bank or credit union asking for this information, hang up immediately and make sure you call the correct number. Scammers can spoof phone numbers to make it look like your financial institution is calling you. Always hang up—we will never get offended.

On that same note, The FTC or Social Security Office will never call to tell you your social security number is being used. Never follow any request to send your money to another account to protect it. It’s a scam!

Remember the old adage: “If it sounds too good to be true, it probably is!” There is a difference between fraud and being scammed. If you are tricked into completing an authorized purchase, you are liable. That’s why it’s important to stay informed. 

Knowledge is your best defense against fraud. Explore our Cybersecurity Page for the latest information and resources to help you stay protected. Stay safe and vigilant!